Question:
1, I know that if we are given the minority interest of public firm to measure the minority interest of private firm, we have to adjust the valuation to reflect a discount for lack of marketability. But if we are given the minority interest of public firm to measure the majority interest of private firm, do we have to adjust the valuation to reflect a discount for lack of marketability? Does the majority interest of private firm share the same amount of discount for lack of marketability with minority interest of private firm?
2, Do we have to add control premium to a financial buyer with a majority position? Is the amount of premium the same as a strategic buyer with a majority position?